Just one Qualified Electronic Signature (QES) was used in the first three months after conveyancers were invited by HM Land Registry to start using the technology, according to figures obtained by transformation consultancy Novus Strategy.
The Land Registry enabled conveyancers to submit updates using QES at the beginning of August, with the new e-signatures available for charges, transfers and assents.
But in the first three months, Novus Strategy says HMLR received 1,194,439 applications from 5,964 firms of all kinds – and QES was used only once.
Lack of uptake
CEO, Claire Van der Zant, says the lack of uptake raises questions about how quickly the conveyancing process can be modernised in practice, even when new tools are made available.
“We were surprised by the lack of uptake, but there are practical reasons why adoption would be constrained,” she says.
While e-signatures are widely understood by consumers, Van der Zant argues that the challenge for firms is bigger than switching on a new tool.
It’s encouraging that the Government is introducing digital ways of working, but achieving that adoption requires a different approach.”
“So, digitisation alone isn’t the answer,” she says, adding that the industry needs a broader approach to the way information is shared, verified and trusted across the transaction if it is to unlock “frictionless property transactions”.
“As consumers, we all understand what an e-signature is and how user-friendly this technology can be. However, for businesses in this space, the challenge is bigger than simply adopting new tools and adjusting internal processes.”
“It’s encouraging that the Government is introducing digital ways of working, but achieving that adoption requires a different approach.”
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